Balancing Priorities

Where's my tax refund?

"Where's my cash?" It's no surprise that that's the most commonly asked tax question, according to TurboTax.

The answer: Tax refunds typically arrive within three weeks of the date you filed. Those who e-filed with direct deposit can expect an even shorter turnaround. If it's been longer, or you are simply dying to know, you can check status of your federal refund on the IRS site: Where's My Refund?

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Last year, about three-quarters of taxpayers received a tax refund, which was $2,860 on average. As of March 24, the IRS had issued 68.3 million refunds, averaging $2,897.

If you're expecting a lot more than that, it likely means you've overpaid on taxes throughout the year.

More from Balancing Priorities:
The smartest way to use your tax refund
The wackiest tax deductions you never knew existed
Why a huge tax refund is a bad strategy

Once that cash finally hits your account, financial advisors recommend using it to pay down high-interest loans such as credit card debt.